UPDATE 1-Petrobras says discovers oil in Angola waters

(Updates with details)

SAO PAULO, Nov 11 (Reuters) - Brazil's state-controlled oil company Petrobras (PETR4.SA) said on Wednesday it found oil in deep waters off Angola.

The oil, in the Cabaca Norte-1 well, around 350 kilometers (219 miles) north of Luanda, is the second discovery within the 15/06 bloc in which Petrobras has a 5 percent stake.

Angola has an underwater geological formation similar to one found off the coast of Brazil, which in 2007 made a subsalt discovery of some 8 billion barrels of crude in its Tupi field.

On a visit to Angola on Tuesday, Brazil's trade and development minister, Miguel Jorge, said Petrobras was interested in developing the African country's deep-lying oil resources.

Norwegian oil and gas company StatoilHydro (STL.OL) said in July it was also looking at subsalt exploration in Angola, which rivals Nigeria as Africa's biggest oil producer.

Petrobras said the Norte-1 well was drilled from the sea bed 500 meters below the surface and to a depth of 2,830 meters. Initial tests yielded more than 6,500 barrels of oil per day.

(Reporting by Denise Luna; Writing by Peter Murphy; Editing by David Gregorio)